Coronavirus Business Interruption Loan Scheme (CBILS)
As part of the Coronavirus Business Interruption Loan Scheme (CBILS), SWIG Finance can provide loans of up to £100k to businesses in the South West region. Arrangement fees and the first 12 months interest will be paid by the government.
This is part of a wider scheme being delivered by British Business Bank to provide facilities of up to £5m for UK smaller businesses (SMEs) across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
The scheme provides the lender with a government-backed guarantee, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.
Delivered by the British Business Bank through 40+ accredited lenders and partners, CBILS will support the continued provision of finance to UK SMEs during the Covid-19 outbreak.